I am just a bit annoyed at the size of the options grants. 3.3 million shares via options - that's a very, very generous package. Some appear to have an exercise price of $1.00 - so someone getting 500k options is getting $750k in hand.

It dilutes the value of all our shares by approximately 3%. At current prices that's roughly the same as raising the cost of all our shares by 7 cents.

I expect options to be granted, and and 50,000 or 100k at a time I have no problem with. But handing out cheques for $500k at this stage of the game seems a bit off.

Imagine what it would take in $ for any of us to buy the equivalent number of shares, at today's prices. E.g. 400k shares would cost about $1m.

I can handle it this time, but is there a shareholder brake on the generosity of the options program? Or is there going to be steady dilution in favour of company officers and staff?